Saraswati Saree Depot IPO is a book built issue of Rs 160.01 crores. The issue is a combination of fresh issue of 0.65 crore shares aggregating to Rs 104.00 crores and offer for sale of 0.35 crore shares aggregating to Rs 56.02 crores.
Saraswati Saree Depot IPO opens for subscription on August 12, 2024 and closes on August 14, 2024. The allotment for the Saraswati Saree Depot IPO is expected to be finalized on Friday, August 16, 2024. Saraswati Saree Depot IPO will list on BSE, NSE with tentative listing date fixed as Tuesday, August 20, 2024.
Saraswati Saree Depot IPO price band is set at ₹152 to ₹160 per share. The minimum lot size for an application is 90 Shares. The minimum amount of investment required by retail investors is ₹14,400. The minimum lot size investment for sNII is 14 lots (1,260 shares), amounting to ₹201,600, and for bNII, it is 70 lots (6,300 shares), amounting to ₹1,008,000.
Unistone Capital Pvt Ltd is the book running lead manager of the Saraswati Saree Depot IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.
Refer to Saraswati Saree Depot IPO RHP for detailed information.
Saraswati Saree Depot IPO Details
| IPO Date | August 12, 2024 to August 14, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹152 to ₹160 per share |
| Lot Size | 90 Shares |
| Total Issue Size | 10,000,800 shares (aggregating up to ₹160.01 Cr) |
| Fresh Issue | 6,499,800 shares (aggregating up to ₹104.00 Cr) |
| Offer for Sale | 3,501,000 shares of ₹10 (aggregating up to ₹56.02 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 33,100,000 |
| Share holding post issue | 39,599,800 |
Saraswati Saree Depot IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Saraswati Saree Depot IPO Timeline (Tentative Schedule)
Saraswati Saree Depot IPO opens on August 12, 2024, and closes on August 14, 2024.
| IPO Open Date | Monday, August 12, 2024 |
| IPO Close Date | Wednesday, August 14, 2024 |
| Basis of Allotment | Friday, August 16, 2024 |
| Initiation of Refunds | Monday, August 19, 2024 |
| Credit of Shares to Demat | Monday, August 19, 2024 |
| Listing Date | Tuesday, August 20, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 14, 2024 |
Saraswati Saree Depot IPO Lot Size
Investors can bid for a minimum of 90 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 90 | ₹14,400 |
| Retail (Max) | 13 | 1170 | ₹187,200 |
| S-HNI (Min) | 14 | 1,260 | ₹201,600 |
| S-HNI (Max) | 69 | 6,210 | ₹993,600 |
| B-HNI (Min) | 70 | 6,300 | ₹1,008,000 |
| Lot Size Calculator | |||
Saraswati Saree Depot IPO Promoter Holding
Mr. Shankar Dulhani, Mr. Mahesh Dulhani, Mr. Rajesh Dulhani, and Mr. Vinod Dulhani are the promoters of the company.
| Share Holding Pre Issue | 100.00 |
| Share Holding Post Issue |
About Saraswati Saree Depot Limited
Incorporated in 1996, Saraswati Saree Depot Limited is engaged in manufacturing and wholesale women’s apparel.
The company’s primary business is the wholesale (B2B) segment of sarees. It is also engaged in the wholesale business of other women’s apparel, such as kurtis, dress materials, blouse pieces, lehengas, bottoms, etc.
The company regularly sources sarees and other women’s apparel from more than 900 weavers/suppliers across different states in India. Currently, our product catalog lists more than 300,000 different SKUs. The company majorly sells products in southern and western regions comprising mainly Maharashtra, Goa, Karnataka, and Tamil Nadu and the company has served more than 13,000 unique customers in fiscal 2024. The company stores offer saree products categorized by occasion, fabric, weave, and ornamentation. Over 90 percent of the company’s revenue comes from saree sales.
As of June 30, 2024, the company had an employee base of 314 employees in various departments.
Company Financials
Saraswati Saree Depot Limited Financial Information (Restated Consolidated)
Saraswati Saree Depot Limited’s revenue increased by 2% and profit after tax (PAT) rose by 29% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 205.94 | 188.85 | 169.93 | |||||||||||||||||||||||||||
| Revenue | 612.58 | 603.52 | 550.31 | |||||||||||||||||||||||||||
| Profit After Tax | 29.53 | 22.97 | 12.31 | |||||||||||||||||||||||||||
| Net Worth | 64.91 | 35.38 | 12.41 | |||||||||||||||||||||||||||
| Total Borrowing | 43.49 | 41.43 | 66.62 | |||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||
Key Performance Indicator
The market capitalization of Saraswati Saree Depot IPO is Rs 633.6 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 58.88 |
| ROCE | 64.46 |
| Debt/Equity | 0.67 |
| RoNW | 45.49 |
| P/BV | 14.97 |
| PAT Margin (%) | 4.83 |
Check Saraswati Saree Depot IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 6.94 | 5.8 |
| P/E (x) | 23.05 | 27.58 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of March 31, 2023 that is available in RHP.
Objects of the Issue (Saraswati Saree Depot IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Funding working capital requirements of the company.
- General corporate purposes.
Saraswati Saree Depot IPO Review (Apply)
[Dilip Davda] The company has unique model of saree whole selling and has over 300000 SKUs procured from 900+ weavers and marketed to 13000+ customers, who are largely semi wholesaler/retailers. Thus it operates on B2B model with 90+% revenue from sale of Sarees. Recently, it diversified into kurti and dress materials along with branded suiting/shirting for men that is contributing the rest. Considering the trends set by its unique business model, investors may park funds for medium to long term. Read detail review…
Saraswati Saree Depot IPO Prospectus
Saraswati Saree Depot Limited Contact Details
Saraswati Saree Depot Limited
Sr No.144/1 Manademala,
Near Tawade Hotel, Gandhinagar Road,
Uchagaon, Kolhapur – 416005
Phone: +919271009858
Email: cs@saraswatisareedepotlimited.com
Website: https://www.saraswatisareedepot.com/home
Saraswati Saree Depot IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html